Resource News

First Majestic Silver Corp (NYSE:AG, TSX:FR) announced that they expansion at the La Guitarra Silver Mine is finished and that commercial production is expected to reach 500 tpd during the month of May.

First Majestic Silver Corp (NYSE:AG, TSX:FR) announced that the expansion at the La Guitarra Silver Mine is finished and that commercial production is expected to reach 500 tpd during the month of May.

As quoted in the press release:

The construction of the new circuit was completed on budget and has been operating since April 24, 2013, without disrupting operations in the old 350 tpd circuit. This new circuit, resulting from the installation of a new ball mill and new flotation cells, is anticipated to produce approximately 1.2 million ounces of silver equivalent annually, representing over one million ounces of pure silver plus a modest amount of gold.

First Majestic’s President and CEO, Keith Neumeyer, said:

Since the purchase of the La Guitarra mine in July 2012, we’ve been confident of the mine’s upside and have known it would take time for it to reach its full potential. As I’ve said many times; great mines take time, expertise and money to reach their potential. We are adding these elements one step at a time, and will continue to do so, which will result in a continuation of growth at the La Guitarra mine for many years to come

To view the whole press release, click here.

Featured

MARKETS

Markets
TSX21121.06+376.83
TSXV818.43+9.70
DOW33916.39+614.46
S&P 5004287.50+103.54
NASD12871.53+382.59
ASX7261.20-56.80

COMMODITIES

Commodities
Gold1894.30+8.54
Silver23.15-0.19
Copper4.44-0.03
Palladium2236.51+26.51
Platinum919.97+2.96
Oil105.20+3.18
Heating Oil4.02+0.08
Natural Gas6.95-0.39

DOWNLOAD FREE REPORTS

×